the whole ROI concept only works if you have metrics set up to track and quantify what it is that you want to measure a gain (or loss) on. it would only be fitting if social ROI was conducted in the same way. there are many ways you can assign metrics to- webhits, unique url clicks, number of downloads..the list really could go on forever. it is very easy to see that if you know what it is that you want to measure then getting the correct metrics set up isn't difficult; it's when you don't know what it is you are looking for in the numbers that calculating social ROI can be challenging..
HOWEVER, you do realize that you are talking about calculating the return on investment of social media. how do you really quantify this? it's almost as if i was going to track the number of people that i spoke with during the day to see over time how this number changed. but it wouldn't account for the quality of the conversation or whether the conversation was about business or pleasure.
the numbers don't feel the smile during and after laughter..they don't feel the satisfaction after a well done deal..and they certainly can't taste the tea during a quick meeting with a client..this is why in my mind there won't be ways to fully quantify social anything.
it's social- it's not supposed to be quantified, that's the point of the whole concept of being socially active.
Skyscrapers, Powerpoints and Hispanic Marketing
-
I've spent the last four months interning for The San Jose Group, a
multi-cultural Hispanic marketing and advertising agency. It has been an
eye opening ex...
13 years ago
in a lot of way i agree with your points about the unquantifiable nature of social media use. however, if companies did not make sure their efforts were actually receiving page-views and downloads then there would be no way to verify how widespread the potential qualitative benefits would be. also, hot chocolate is a far more appropriate business meeting beverage than tea.
ReplyDeletegood posting. and I agree with you in the numner opinionespecially this part [but it wouldn't account for the quality of the conversation or whether the conversation was about business or pleasure.]
ReplyDeletethis is so right. quantifying everything is maybe not very good
The difference is businesses aren't socializing just to be social, they're socializing to push a product or service and they need to be able to gauge how well they're doing that in a social environment.
ReplyDeleteI really liked your analogy to tracking the number of people you talk to on a daily basis and how it does not measure the quality of conversation. Tracking ROI with social media is definitely difficult and perhaps can and never will be fully quantifiable.
ReplyDelete@Romadome hot chocolate would only be acceptable if you were meeting with twelve year olds. no businessman walks up to the counter at a coffee shop and orders hot chocolate for himself.
ReplyDelete